The mood of investors appears to remain buoyant during early Tuesday trading, with riskier currencies continuing to gain ground against safe-havens following more good vaccine news on Monday with Moderna announcing its inoculation achieved a success rate of 94% with relatively low maintenance requirements for transportation. With increasingly solid hopes that life will return to normal at some point in 2021, investors are favouring riskier currencies which is causing the US dollar, seen for much of this year as one of the go-to safe havens, to decline.
Gold is steady with no clear direction. The price has been affected by the general risk on scenario, which has boosted stock markets in the last few days. Investors are betting on riskier assets, reducing or at least not increasing their gold reserves. It is worth pointing out that bullion rebounded on the support level placed at $1,850, remaining in the lateral channel between $1,850 and $2,070 where the price has been dancing for the last 3 months.
Carlo Alberto De Casa – Chief analyst, ActivTrades
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Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
